YOUR MAMAS NOTES: Kurt Rappaport may not be a celebrity of the film or television variety, but he is a very high profile Beverly Hills real estate agent who has made a fair sized fortune brokering big deals for more people in the bizness of show than we could possibly count. The children who haven't ruined their minds with the dope or booze will surely recall that it was Mister Rappaport who took in thirty-some million clams back in the Spring of 2007 when sold his freshly renovated house in Beverly Hills to that disturbing and robotic Tom Crooz fellow who proceeded to spend many more millions re-renovating.

Shortly after vacating his house on Calle Vista Drive so that the Crooz clan could take up residence, Mister Rappaport snatched up tire tycoon Lawrence Kraines crib on nearby N. Crescent Drive in Beverly Hills. Property records reveal, along with information received at the time of the purchase from both Lucy Spillerguts and Our Fairy Godmother in Beverly Hills, that just last year, in March of 2008, Mister and Missus Rappaport paid $13,200,000 for the 12,981 square foot pile.

Now, just one year later, after noted decorator to the rich and famous Waldo Fernandez worked the place over, the AAA located property has been flipped back on the market with a stunning asking price of $28,500,000. You have to admit children, it takes some serious real estate balls to attempt to flip a Beverly Hills mansion in the current economic climate at more than twice what was paid for it a year ago...even if it was fully renovated with the finest materials and is located on one of the most sought after streets in all of Beverly Hills.

Listing information reveals the Rappaport residence measures in at approximately 15,000 square feet, which would indicate that the couple either added a bit here and there to the house or they've included the guest house square footage in that figure.

Listing information also indicates the double gated stone manor house contains 8 bedrooms and 9.5 bathrooms including a massive master suite with a vintage VernerPanton shell chandelier, a fireplace, a vacuum unfriendly, fuzzy white area rug that looks like it was woven with the hair bunnies of our sheding and seriously sour pussycat Sugar leaves, and, as expected, marble his and hers (or hers and hers, etc.) everything.

The huge home is entered through an impressive and, indeed, dramatic two story stair hall that sets the traditional meets modern (but not too modern) decorative tone for the entire house. The parquet floors have been picked (or perhaps white-washed, we're not sure), the walls glisten with a light reflecting white paint and vibrant colors pop off the furniture, rug and sextet of Andy Warhol prints (or posters, or whatever) hung high on the wall behind the gently curving staircase. The rear wall of the entry has several sets of French doors that open graciously and informally to the back yard. If we're being truthful, and we always are, Your Mama admits that but for the cliché orchids on the glass table, we're sort of swooning over this crisp and elegantly contemporary entrance hall.

Formal living and dining rooms are available for formal living and dining events, but it's the more informal areas on the ground floor that provide owners and guests with some lovely and casual rooms in which to actually live. The coffered, dentiled and architecturally serious ceiling in the library/billiard room has been de-stuffy-fied but stripping (or pickling, or whatever) the perfectly pleasing paneling that covers the walls from floor to ceiling, and adding contemporary black and white photograph over the fireplace. The effective juxtaposition of old-school and up to date is further enhanced by the simple and modern light fixtures and a couple of Art Deco era club chairs covered in mint velvet (or velour, or whatever). We are not normally fond of pool tables in private homes, but if one must be included, this one from the 1930s–which probably cost as much as a Mercedes–is certainly an acceptable option.

The rear rooms on the lower level include a white-walled step-down family room that is large enough to accommodate several seating areas has has a row of French doors that open to the garden. The family room flows into the newly installed kitchen which appears to have two of everything. For strapping on the feed bag, there is a long counter with a row of iron and wicker stools and a big breakfast area tucked into a bay window.

Additional amenities, according to listing information, that should appeal to whatever 8-figure buyers are still out there shopping for a new mansion include the large motor court, garage parking for several sedans and sports cars, a brick lined wine cellar, home theater, home gym, home office, and art studio and a dance studio, separate quarters for guests or live-in staff and an elevator because, let's face it, who wants to be navigating a long staircase after a long night of gin and tonics and reality tee-vee programs played on the big screen in the media room?

The newly added and simply shaped infinity edged swimming pool and spa sits in the rear corner of the yard and replaces the over-processed backyard extravaganza that Mister Kraines had installed. A very, very long stretch of newly installed sod is a blank canvas where the new owner's landscape architect can go hog wild.

As deeply desirable as N. Crescent Drive is to all those really rich people who know and care about the difference between Beverly Hills and the Beverly Hills Post Office, it remains to be seen if Mister Rappaport can get anywhere near his asking price. Unless he's got his eyeballs on something else, Your Mama suspects the successful property pusher is not in a hurry to sell and that he can, and will, hold out for a large number that rings his bell, wets his whistle and lines the Missus' Birkin bag with $1,000 bills.

This guy is still in flipper mode. Please somebody find the switch and turn him off.

This price is WAY to high.

There are a ton of houses for sale in the area. And the way the beads on the abacus are sliding, I imagine a ton more are going to be on the market very soon for even less.

You would be better off buying a house for half this and doing your own redo. You would save TONS of money. You could get the one on Hartford for 13.5 and do it the way you want and still have money left to buy a house for junior with your 28.5 mil budget.

I would rent for now, and wait a year. Prices are falling like Wall Street. It is a buyers market now.

its non sense. Its like the 1011 beverly house that was 150 or 165 million. They know it wont sell, its just an ego thing. Dont get me wrong, its a great house but even after waldo did the house and anyone else, the house will not get more than 1300 a foot.. and im being super generous. over priced. and its known that an agent that lists his house... always is over priced. ALWAYS.

Gorgeous traditional, impeccably updated. Drool. I've noticed the "finest estate available" tag is being used by an increasing number of sellers of high priced homes in the area. I'm beginning to think it's realtor code for "Ridiculously over priced", wink wink, nudge. nudge.

Are the rooms huge or is the furniture small--just looks out of proportion to me--especially the hideious orange chair in the entry and the 2 pale green chairs in the library with the pool table!! And what's up with the weird angle of the sofa in the bedroom?

I just don't like this house. At all. Perhaps it's the contrast between the white paint and the stone. I think the rear proportions are ugly (the rear exterior of the house may not be important to other chilrun, but for $28.5M, I'll consider every aspect). The inside does NOTHING for me, except for the paneled room with the pool table.

Like PCH said, it's "Too much house crammed onto too little land." A 10,000 sq. ft. house would be better suited for this lot. Also, I feel the same as Anon 6:33 in terms of the room proportions, they're just not right. Either the proportions make the ceilings seem lower or they are, in fact, 8' ceilings which is just bad.

I THINK THAT MAY BE A ROBERT LONGO IN THE LIBRARY/BILLIARD ROOM WHICH WOULD MOST LKELY MAKE IT A DRAWING NOT A PHOTOGRAPH. BUT WHO COULD EVEN CARE WITH ALL THE HIDEOUS "DECORATING" GOING ON IN THIS OVERPRICED MESS OF A HOUSE.....

You know 8:20, I just took time to review the photos of this home pre-renovation, and have to agree that the removing and erasing of the original woodwork with paint was a mistake. I had forgotten just how much character it had previously. It's lost a good deal of it's warmth.

Ok 9:00, I agree the pre-reno home needed updating. No argument there. I personally love original natural woodwork, and wouldn't have chosen to whitewash it away as Mr. Rappaport did is all.

Regarding what he'a asking for it, I think Tom Cruise's willingness to pay whatever it took to obtain the Calle Vista property from him had more to do with the privacy and security a flag shaped lot completely surrounded by other homes affords. This property offers no unique advantages compared to equivalent others in the area at a fraction of the price.

i love how literal this house is. HERE ARE MY STAIRS, HERE ARE MY WARHOLS, HERE ARE MY WINDOWS, THEY ARE ALL OPEN. HERE IS WHERE I GET CLEAN! HERE IS WHERE I COOK AND YOU WILL SIT DOWN AND WATCH ME. HERE IS WHERE I EAT AND LOOK OUT THE WINDOWS. HERE IS MY LAWN! HERE ARE MY CARS! HERE IS MY WINE CELLAR/DUNGEON. HERE IS WHERE WE WILL PLAY POOL AND YOU WILL READ TO ME FROM THE NECRONOMICON. there is no wiggle room here. very Henry Rollins.

Regarding your brilliant assertation: "I am convinced that only absolute morons live in Los Angeles county. These prices and the sellers are absolutely retarded."

We Morons in L.A. think you're a clueless dork. Don't hate, salivate! I would say something snarky like, "go back to your double wide" but I wouldn't want to insult people that live in trailer parks...

kurt rappaport has the best houee taste of anyone in LA. this is a better version of the tom cruise house in a much better location. i love the freshness of taking a classic house and bringing a modern influence.

Don't much care for the exterior or outdoor spaces...it's all less than what I'd want and expect of a house this price...but Waldo did a nice job. I think the interiors are nicely done, so much lighter and up to date than what it was before.

P.S. I'm almost positive that orange chair in the entry, while in a bit of an odd spot, is a very expensive recliner from the 1930s or 1940s or something. More of a piece of art than a place to kick up your feet. I don't know my furniture well, but I know I've seen that chair in one of my more design oriened friends's houses.

Wow, this house is so great. The decorator is genius. He/She or it, opened a white can of paint and painted everything--even the garage. Wow. It is so smart to buy one or two peices of furniture or art and put it in every room--you'll be considered an A+ Beverly Hills decorator to the stars. How invigorating. Putting 10 well placed items in each room is way to risky--I'll tell on myself that I have no taste.

Man, I highly recommend anyone with almost 30 Mil to buy this place--not the gorgeous houses in the Sunday LA times for 5-10.

What a greedy agent. Tries to flip it for more than double the price purchased for. Maybe spent $2,000 on cans of white paint. How is the other $15m approx justified? World wide boom??? All agents are cons especially when they are owners of the property.

I just went to the Kurt's website and observed all of the pictures and I must say the house is amazing. I personally love the remodeling done to the house. I would have to agree with angeleyes (8:43am Feb 28th). Get rid of the old for the new. Who wants to live in the 70's. Unfortunately, the price is an absolute joke. What world is this guy living in? Seriously. I'm praying that people in Cali (rather rich or poor or middle class) will finally wake up and finally say "NO MORE." NO MORE will I buy into these overvalued ridiculous prices. NO MORE will I make somebody rich over night. WAKE UP CALI. WAKE UP KURT. And word to Kurt, I noticed none of your other INFLATED properties have sold either. GET A CLUE BUDDY.

Why put a raised infinity pool/spa in a backyard with NO VIEW? Maybe for a villa in St. Barts, but this does not work in a BH backyard. And backyard has tiny deck area by the pool and none around the house, just lawn. Worthless for practical use and parties, only for show and Architectural Digest photo shoots.

Also, I don't like the Pier 1 Import style wicker bar stools in the kitchen. And the dark brown/black kitchen cabinets, brown bar and tan wood floor don't work for me with the white ceiling/windows.

And the railing on the stair and upper banister is nauseatingly busy.

I like the windows and doors, but I can get them for far less than 28.5 million.

This home was awful and cold before. I saw it... just unbearable to walk through.

This redo is nice although I can't help but take notice of the backyard which is soooo small. No view and not that special of a house. As was said before, I don't understand putting in an infinity pool if there are no views to be enjoyed.

He turned an unlivable house into a nice place... and is trying to make a ridiculous profit. I'm not seeing how the prices he's giving any of his listings have any justification these days. I'd say it's an $18 mil house now... yes, in this market.

i had been in the old house a few years ago when Kraines owned it. i just had the pleasure of seeing the house and all i can say is WOW!!! its amazing. its been completely changed and the old house that was there was basically torn down. The scale, taste and quality are amazing. The pictures suck and do no justice. im telling you the place is outrageously beautiful.

Hollywood Mayor,You are such a little whore who again knows nothing. You troll Santa Monica Blvd and usually come home alone which is what explains your why such such a lil bitch... an infinity pool w/o a view...u just dont get it? well ur a poor little apartment livin queen has never been in the hamptons and seen that the chicest homes w no views have inifinty pools.

I lived in the Hamptons for 6 years and have been in some of the grandest Estates there but the pool and this back yard suck period! too big house too small lot. asking price? A joke but hey he can try and thats his right..everyone needs to chill sellers are still going to be sellers delusional or not